An automatic premium loan provision is a clause in a whole life insurance policy. (insuranceopedia.com)
Use your accumulated cash value to pay the future premiums (also referred as automatic premium loan). (investopedia.com)
One word of caution, the rising cost of insurance associated with the IUL, and the potential for premium loans, can create a perfect storm for those that are unprepared at an old age. (insuranceandestates.com)